Company generates consistent revenue from ~60 businesses and municipalities across the State of California and at any given time will be working with 25-40 of these entities (37 active projects as of Feb 2019)
Clements Client recently awarded $5m grant from California Energy Commission which will generate an incremental $300,000-$400,000 revenue per year between 2019-2021
Recession-resilient business, with consistent financial performance, generating at least $1.1M revenue and $670,000 Adjusted SDE over the past four years.
Company has an active backlog of $1.7M in on-going work as of February 2019 (this represents 1.5 years of work at historical run-rate) with an additional pipeline of $1.3M of specifically identified opportunities
Historically, company has a 95% success rate permitting solid waste facilities.
Highly diversified customer base with no client representing > 9% of sales.
Three employees who desire to remain with buyer; each managing multiple projects and possessing specialized skill sets/diverse educational backgrounds. Currently hiring two additional engineers.
Loyal client base, with many of whom the company have worked for 10-20+ years.
The nature of the solid waste business is one of continual expansion and innovation as the industry has shifted over the past 40 years from one based on collection and landfill disposal, to a focus first on recycling, and now on renewable energy and climate change. The company is well-positioned to serve its clients across this broad spectrum of work.
Owner is at retirement age and has developed comprehensive strategic growth plan, which he can help buyer implement during transitionary period
$307k of Receivables included in asking price.